A decision has been made. It's the word all married couples dread--divorce. For women, few issues are more critical to surviving divorce than establishing financial security.

Kim Lee Kenawell-Hoffecker (submitted photo)

The majority of female newlyweds believe divorce will never happen to them, but when it does, many are unprepared for the financial fallout and hard-hitting lifestyle adjustments to home, childcare, vehicle, retirement funds, even spending money.

But by making smart and prudent financial decisions now, women can prevent some of the financial sting of divorce -- a pain which permeates lives long after emotions and families begin to heal.

Unfortunately, 41 percent to 50 percent of U.S. marriages will end in divorce.

This sobering statistic causes serious dissolution of wealth, especially among couples ages 25-39, which account for 60% of all divorces as they lead up to their peak earning years. Even Boomers and empty nesters are increasingly finding themselves at risk for separation.

The negative impact of divorce on people's financial futures is pervasive, especially for those who served as the main family caretaker or stay-at-home mom.

The same is true for men when women are the major breadwinners: divorce can hit twice as hard if their earning capacity was negatively impacted by the choice to off-ramp or modify their career paths for the betterment of their family.

At the settlement table, emotions can hijack clear thinking and feelings of fear, anger, and resentment can prevent good decision-making about finances. What's more, demographics show women tend to outlive men in the U.S. by almost seven years, making the future financial impact risk that accompanies divorce that much greater.

No one enters marriage expecting to become a widow, and no one plans to be impacted by a disability. But by following these three simple steps, you can safeguard your financial future no matter what challenges life brings.

Kim Lee Kenawell-Hoffecker, is a founding partner and senior family wealth advisor at Avantra Family Wealth in Mechanicsburg. Readers may email her atKim_Kenawell@avantrafamilywealth.com.

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